The company car

An employee's favorite perk...
An accountant's little time bomb


Taxing employees on their use of company cars is not as simple as you might think. Travel expense claims and deductions are one of the most common triggers for a SARS audit.

In fact, if you get it wrong you’ll face penalties of up to 200% from SARS. And to top it off your employees will either pay too much tax or not enough. Either way, the admin to sort it out is just not worth your time.
    
The good news is that 90+% of the penalties involve only 4 mistakes that you can easily disarm today.

Disarm these 4 ticking time bombs


He didn’t start using the company car until midway through the month
He uses the car more than 80% for business travel
He gets the use of more than one company car
He pays the maintenance, fuel and licensing costs – instead of the company

These are very common problems. And something you’ll spend hours searching for the answer on the Internet.

Today, you have it in your power to never waste another minute on the Internet trying to disarm these ticking time bombs…


14 Practical examples to make your travel calculations in minutes


Spending time trying to calculate all the variables of company cars vs. travel allowances can be frustrating not to mention complicated.

Well, you don’t have to pull your hair out anymore.

The company car and travel allowance chapters in the Practical Tax Handbook show you exactly how to calculate the various travel options available to you. With this information at the ready, you’ll never make a wrong decision about company cars and travel allowances again. And the best part is, you’ll save a fortune in taxes that you would’ve had to pay if you didn’t have this information.

Simply use the 14 examples we’ve laid out for you. All you need to do is substitute our figures with yours and voila, you’ll have your calculations done within minutes.

But if you’re still not sure you have your calculations right, or if you’ve used the right information, I’ve compiled three handy checklists for you.

The only three checklists you’ll ever need when it comes to company cars


Sometimes large amounts of information can be overwhelming especially when all you're trying to do is have all the relevant information you’re looking for, summarised and in one easy-to-find place. I have just the answer for you...

We’ve compiled three handy checklists on the details that MUST be included in your logbook, the three most common travel allowance errors you must avoid to escape penalties and all the differences between a company car and a travel allowance. You can print these out and keep them on your desk so you don’t have to wade through pages of information.

While going through your checklists you might have a question about company cars or travel allowances. So what now? Do you go back to the internet to search for the answers? Or call you tax consultant and spend R1 200 to get your answer?

No. You don’t have to do either of these. We’ve answered 10 of the most popular company car and travel allowance questions. Here they are.

Your top ten company car and travel allowance questions answered by leading tax professionals


If you know what your colleagues are asking it’ll save you a lot of money. This is because tax consultants charge anything from R1 200 an hour answer your tax questions.

So having the top ten, most asked, company car and travel allowance questions and answers at your fingertips will save you thousands of unnecessary rands on consultant fees.

And the best part is, you can refer back to these questions and answers as many times as you like.


Don’t spend another minute scouring the internet for answers that aren’t there


You no longer need to worry if the route you take is the correct one or the most cost effective one for your business. With The Practical Tax Handbook you’ll have everything you need to make the best decision for your business thanks to the some of the top tax experts in South Africa.

The Practical Tax Handbook will help you minimise the amount of time you spend going back and forth debating if you should offer your staff a company car or a travel allowance. You’ll have all the answers at the click of a button.

So when you consider how much you’d save if you knew how to legally reduce the amount of tax you’re paying on fringe benefits for each of your employees, you’ll know it’s worth it. Never mind the 200% in penalties you could save because you’ll know how to deduct the right amount of tax.

A combined experience of 91 years... and a mission


I'm David van Niekerk and I have one single mission: To help businesses like yours save tax. My team and I at the Practical Tax Handbook service have developed a perfectly legal way to do just that. Let's meet the team.
 

David van Niekerk - Qualified chartered accountant and registered tax practitioner with SARS

I'm a qualified chartered accountant and registered with the South African Institute of Chartered Accountants. I am also a registered tax practitioner with SARS and have been since 2004.

I believe in absolute integrity and the highest quality service when handling my client’s business and personal portfolios. I have been involved in tax consulting since 1999, offering clients both complicated legal tax interpretation, structuring and advice, to assisting with basic tax filing.

I am also involved in statutory and forensic auditing, accounting, risk and internal control assessment and planning. I am passionate about my client’s business, knowing that dedication and motivation holds a natural reciprocity to providing professional services.

Natalie Cousens  - Advisor to over 30 000 tax professionals

Natalie holds a Bachelor of Commerce in Marketing and Business Management degree through Oxford Brookes University, along with a Bachelor of Business Administration (BBA) in Marketing Management.

But what does marketing have to do with tax? Natalie’s prestigious qualifications helped ignite her passion for numbers and analysis.
 
She works closely with her team of leading tax experts from around South Africa analysing the complex tax laws.

It’s through her unprecedented access to these experts that she’s able to advise tens of thousands of people every day, showing them the tax saving tips, secrets and loopholes to make their businesses more profitable. Together with her panel of tax experts, she helps bring her clients the latest tax news in a practical forum.
 
Annja Louca - Certified internal auditor, registered with the International Internal Auditing Board of SA

Annja is a qualified chartered accountant and is registered with the South African Institute of Chartered Accountants and has been a registered tax practitioner with SARS since 2010.

In addition to external auditing, she is a certified internal auditor and is registered with the International Internal Auditing Board of SA.
 
Thomas Jordi - Master tax practitioner at the South African Institute of Tax professionals

Thomas has an honours degree in advanced taxation. Working as a tax and business consultant, he gained a knowledge and understanding of the inner working of small to medium business with a focus on compliance issues stunting the potential for gowth.

During this time he joined the South African Institute of Tax professionals as a Master Tax practitioner.

He has also published a tax manual for use in an introductory tax course.

Lizelle Talbot - Group tax specialist for a large listed group of entities

Lizelle has a BCom Hons and a Masters degree in taxation from the University of Pretoria and is a registered Master Tax Practitioner with the South African Institute of Tax Practitioners.

She's been specialising in tax since 2007 and has been an independent tax consultant since 2012 and is currently acting as the group tax specialist for a large listed group of entities.

Ettiene Retief - Chairman of the Tax Technical Committee at South African Institute of Professional Accountants

He's on a first name basis with Trevor, Pravin and now Oupa... all so he can fight for the cause of taxpayers like you.

Every chance he gets he bends their ears and challenges SARS' interpretation and application of South Africa's tax laws. As a chairman of the Tax Technical Committee at South African Institute of Professional Accountants, he's in a position that those in power can't ignore.

Together, this team works day and night to uncover every legal way to help you protect your rights and to reduce how much tax your business must pay.

So today I'd like to give you the opportunity to put this service to the test, risk free

 

I'll explain more in a minute... but first, here are a few more secrets you can use to pay less tax, guarantee your compliance and generally just make your job (and life) easier...

Other secrets you'll uncover with the Practical Tax Handbook

Space is limited. Your time is precious. So, instead of going into more detail here, I want to give you the opportunity to uncover for yourself ALL the tax-minimising, compliance-maximising strategies the Practical Tax team has covered, I'd like to send you the Practical Tax Handbook risk free.

Remember, independent consultants check all the tips, tools, strategies and checklists you'll discover in the Practical Tax Handbook . That means everything you'll find in this Handbook is 100% legal.


 

Let's take a look inside the Practical Tax Handbook...
 

Tax topics for finance professionals  - concise and understandable formulated and presented clearly.  

But see for yourself ...

Here's what you'll receive….




And this is just the start


The Practical Tax Handbook comes with an essential updating service, the special report: Take on SARS and Win!, access to the 24/7 expert Tax advice helpdesk and three bonus tax saving reports.


You'll also immediately receive FIVE FREE BONUS GIFTS to  help you take the hassle out of tax, audit-proof your business and make the Receiver your friend!

  

Combined, these gifts have a total value of R1 200 - Yours absolutely free


To welcome you as a new subscriber, you’ll get instant tax savings, with these FREE five gifts and services:

  1. You’ll find out how to save thousands of rands and precious time with the alternative dispute resolution method.
     
  2. You have access to a personalised Tax Helpdesk service where a team of tax experts are available 24/7 to answer your specific questions.
     
  3. 5 Tax deductions to save you over R110 000 in your company today!
     
  4. How to save R80 660 in Company Car Taxes
     
  5. 30 Quick Tax Solutions for Busy Taxpayers

Total Value R2 997

But you only pay R997 
(And it's backed with my 100% satisfaction guarantee)

 

The Practical Tax Handbook is developed by tax experts, who individually charge their clients over R1 000 an hour, but here you pay just R997 for their 24/7 advice.

The full subscription is valued at only R2 997…. which is a pittance, compared to the tax savings you’ll make within a few months.

Today, you can secure the full subscription for as little as R997 excl VAT - a massive R2 000 saving.

Your entire package includes:

 
The 500 page Practical Tax handbook
 
valued at R1 797
 
Essential updating service
 
Pay as you go
 
Take on SARS and Win
 
valued at R159
 
Free expert advice to solve your tax problems
 
valued at R599
 
Tax deductions that will save you over R110 000
 
valued at R149
 
How to save R80 660 in company car taxes
 
valued at R149
 
30 Quick tax solutions for busy taxpayers
 
valued at R149
 
 

Lowest Price and Satisfaction Guarantee
 
When you subscribe to The Practical VAT Handbook Subscription Service, you will be billed based on the option you select. The handbook comes with an essential updating service to keep you on top of legislation and new information. *The cost of each update is R249 incl. Vat. Remember your right to cancel your subscription within 30 days of initial payment should the service not meet your requirements.


Yours sincerely

David van Niekerk
Editor in Chief:  The Practical Tax Handbook

PS. Here's my personal guarantee to you. If at any time during the next 30 days, for any reason whatsoever, you decide the Practical Tax Handbook service isn’t for you, simply call or email us and return the Practical Tax Handbook in its original condition.
 
You will be refunded every cent of the subscription price.
It doesn’t get any simpler than that.
 
No pressure – no gimmicks – no strings attached.

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Copyright © 2017, Fleet Street Publications (Pty) Ltd.
The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. No action or inaction should be taken based solely on the contents of this publication. We do research all our recommendations and articles thoroughly, but we disclaim all liability for any inaccuracies or omissions found in this publication. No part of this publication may be reproduced or transmitted in any form or by means of electronic or mechanical, including recording , photocopying, or via a computerised or electric storage or retrieval system without permission granted in writing from the publishers.